Toronto police have charged seven men, including three members of the Canadian Armed Forces, following the abduction of a cryptocurrency exchange owner in July. The Toronto Police Service confirmed Wednesday that the suspects face a total of 82 criminal counts, such as kidnapping for ransom and various firearms-related offenses.
Crypto exchange owner abducted at gunpoint
According to the investigation, the victim, whose name and affiliated exchange have not been disclosed, was targeted as he walked toward his vehicle near Finch Avenue East and Bayview Avenue on July 25, 2026. Police stated the man was abducted at gunpoint, handcuffed, and assaulted as assailants attempted to access his crypto assets and business security systems. He was later released after suspects threatened and warned him not to involve authorities.
“The victim was allegedly targeted because of his access to cryptocurrency assets,” Chief Superintendent Joe Matthews told reporters.
The investigation highlights an increase in sophisticated and targeted crimes involving digital assets, police officials underscored.
Searches of the suspects’ homes and vehicles uncovered a shotgun, two 9mm firearms with 3D-printed receivers, silencers, GPS tracking devices, handcuffs, and significant amounts of methamphetamine and cocaine. Authorities also seized more than 2,700 rounds of ammunition, with around 2,500 rounds linked to theft from the Canadian Armed Forces. Police Chief Myron Demkiw, addressing reporters, expressed additional concern over the involvement of trained military personnel in the crime.
The arrested men include Saiefeddine Adem, 22, and Raheem Bishop-Jackson, 24, apprehended on July 26. Talarambage Fernando, 22, James Moreau, 29, and Christian Darbandi, 39, were arrested on August 11. Police arrested Jack Miley, 24, and Suhaib Alekozai, 39, on September 24.
Police confirmed Fernando, Moreau, and Miley are members of the Canadian Armed Forces. Fernando and Moreau serve as reservists in the 7th Toronto Regiment and have been removed from military duties following their arrests, according to the Department of National Defence.
Mini dictionary: 7th Toronto Regiment, an artillery unit within the Canadian Army Reserve, which is part of the Canadian Armed Forces and based in Toronto, Ontario.
Ongoing investigation with no further suspects
Chief Demkiw commented that the case demonstrates significant security risks associated with digital asset-related crime and emphasized that no individual, regardless of military or public office, is exempt from the law. Investigators stated there are no outstanding suspects, but the case remains active as authorities continue to piece together the full picture of the alleged conspiracy.
“Whether you are a member of the military or a member of a police service or a public official, no one is above the law,” Police Chief Myron Demkiw said.
Recent years have seen a rise in Canadian abductions involving digital assets. In 2024, WonderFi CEO Dean Skurka was released after a ransom of $720,000 was paid. In another case, a Toronto-area kidnapper who demanded a $1 million Bitcoin ransom was sentenced in September 2025 to 13 years in prison.
Sentencing in previous high-profile crypto kidnapping cases
A separate Toronto-area kidnapping was resolved when Keyron Moore, 39, received a 13-year prison sentence for his role in the abduction and assault of a woman in 2022. Justice M. Townsend handed down the verdict in Newmarket, with time served credited against the term.
A month after that sentencing, a man involved in the December 2022 kidnapping of self-described “Crypto King” Aiden Pleterski pleaded guilty to nine criminal charges, including kidnapping and firearms violations.
| Incident | Year | Ransom | Outcome |
|---|---|---|---|
| WonderFi CEO abduction | 2024 | $720,000 | Victim released |
| Ontario Bitcoin kidnapping | 2025 | $1 million | 13-year prison sentence |
| Aiden Pleterski abduction | 2022 | N/A | Guilty plea, sentencing pending |
